Reason To Sell
Fintech peer to peer (P2P) Looking for Investor
We are now still looking for investors to join us onboard.
Peer-to-peer (P2P) lending became one of the hottest industries in fintech — or any other any industry — in 2015.
We are creating a Peer to Peer lending platform with the expertise of SME lending and Technology and branding expertise in the existing founders.
We are looking for investors to rise funds and join us in the ride of the famous P2P lending world as we have previous experience of running a similar platform and has exisiting credit experience.
The Future of P2P lending
There are several factors that will determine if the rapid growth in peer-to-peer lending will continue:
Rise in interest rates. Most experts believe that as interest rates increase, so too will the number of loan defaults. They believe this will cause the bubble in the lending space to pop. The Fed has already started raising interest rates. However, as long as the economy is doing well and unemployment is low, the number of defaults should not rise that much.
Regulation. Regulators are continuously looking at this space, especially since the San Bernardino terrorist/shooter obtained a $28,500 loan from Prosper weeks before he killed 14 people on December 2, 2015. Prosper issued the loan after all the proper paperwork and background checks were made. While Prosper is not under investigation, the government is now looking at additional regulations to prevent terrorists from getting loans.
Competition from banks. While Goldman Sachs has decided to build their own lending site, most of the other large banks have decided to partner with the existing lending firms. JP Morgan recently announced a partnership with OnDeck Capital that will allow it to outsource to the OnDeck platform business loans under $250,000.
Other banks, like BBVA, Credit Suisse and JP Morgan, have directly invested in Prosper’s latest funding round, while Silicon Valley Bank and Norwest Venture Partners (Wells Fargo is the sole LP for Norwest) have invested in Lending Club.
Market size. How big is the lending market? Lending Club’s IPO filing cites the size of the consumer credit market at $3.2 trillion — $380 billion of that would qualify for Lending Club’s loan policy. Lending firms also may be able to target verticals like auto and medical loans — indeed, Prosper recently acquired American Healthcare Lending.
All the information in this listing has been provided by the business seller or representative. Our platfrom is not responsible for the accuracy of the information.
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